In this edition:
- Building construction rebounds after April dip, residential building in Ontario slows
- Future Black Female celebrates 5th anniversary with charitable status designation
- South Niagara Hospital reaches one-year construction milestone
- More awards for Niagara College’s Teaching Distillery
- Walmart and Costco sign grocery store code of conduct, all major retailers now included
- Canadian Minister of Labour Seamus O’Regan Jr. to step down
- Health and education top Provincial planned spending increases, but all sectors spent less than anticipated
- Focus on Finance & Economy
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Photo credit: boule1301 / Adobe Stock
Building construction rebounds after April dip, residential building in Ontario slows
Month over month, investment in building construction edged up 0.8% to $20.8 billion in May, rebounding from a 2.0% decrease in April. Both residential (+0.9% to $14.4 billion) and non-residential (+0.6% to $6.4 billion) sectors rose slightly in May.
Investment in residential building construction rose 0.9% to $14.4 billion in May. Monthly increases were observed in five provinces and territories, led by Quebec (+$178.3 million to $2.9 billion) and Alberta (+$26.3 million to $1.8 billion). These gains were partially offset by losses in Ontario (-$30.2 million to $5.6 billion).
Photo credit: Future Black Female
Future Black Female celebrates 5th anniversary with charitable status designation
As the impact of Future Black Female continues to spread throughout the Niagara region, supporters of the organization have a new reason to celebrate: Future Black Female (FBF) is now a registered charity in Canada. This breakthrough development means FBF can now issue charitable donation receipts.
“Being a registered charity affirms our mission and vision. It indicates our drive and ambitions as we continue to serve Black communicates across Canada in various ways,” Dr. Tapo Chimbganda, FBF founding executive director, said.
Photo credit: Niagara Health System
South Niagara Hospital reaches one-year construction milestone
It’s been a year since shovels went in the ground for the new South Niagara Hospital (SNH), and the progress made to date is significant.
Since then, crews with EllisDon Infrastructure Healthcare (EDIH) have made impressive progress on construction of this long-awaited hospital, which will be a vital cornerstone of Niagara Health’s three-site hospital system. Excavation for the foundation and basement level is complete, including the insertion of more than 1,250 steel piles into the bedrock to support the building foundation.
Photo credit: Niagara College
More awards for Niagara College’s Teaching Distillery
Competing against craft distilleries from across North America, Niagara College’s Teaching Distillery was ranked among the best when it was awarded two gold medals, a silver and a bronze, and finished third in the Spirit Distilleries Category at the 2024 U.S. Open Whiskey and Spirits Championship.
Photo credit: monticellllo / Adobe Stock
Walmart and Costco sign grocery store code of conduct, all major retailers now included
The Government of Canada announced today that all major retailers have agreed to join the Grocery Sector Code of Conduct. This includes Loblaw, Sobeys, and Metro, and most recently, Walmart and Costco.
“This is a positive step towards bringing more fairness, transparency, and predictability to Canada’s grocery supply chain and for consumers,” said a spokesperson for the Minister of Agriculture and Agri-Food. “We thank the Grocery Sector Code of Conduct Interim Board for their tireless work.”
Photo credit: stokkete / Adobe Stock
Number of EI claimants up 14% year-over-year as labour market eases
In May, 464,000 Canadians received regular Employment Insurance (EI) benefits, up 1.9% (+8,700) from April. Prior to the increase in May, the number of regular EI recipients had held relatively steady since September 2023.
On a year-over-year basis, the number of regular EI beneficiaries was up by 57,000 (+14.0%) in May 2024.
Photo credit: Brad Demers
Canadian Minister of Labour Seamus O’Regan Jr. to step down
Seamus O’Regan Jr., currently Minister of Labour and Seniors, will step down from his ministerial responsibilities due to family reasons. He will continue in his position as the Member of Parliament for St. John’s South—Mount Pearl.
In a statement, the Prime Minister extended his sincere thanks to Minister O’Regan for his exceptional leadership and dedication to making life better for Canadians. The new Minister of Labour and Seniors will be sworn in at Rideau Hall on July 19, 2024.
Photo credit: Andrés García / Adobe Stock
Health and education top Provincial planned spending increases, but all sectors spent less than anticipated
The Province planned to spend $204.9 billion in the 2023-24 fiscal year, the Financial Accountability Office of Ontario (FAO) reported in its Q4 report for the 2023-24 Expenditure Monitor. At the end of the 2023-24 fiscal year, actual unaudited spending was $197.1 billion, based on information as of April 22, 2024. This was $7.8 billion (3.8 per cent) less than planned.
By sector, the largest spending plan increase during the fiscal year was in health, at $3,561 million, followed by education ($3,149 million). However, all sectors spent less than planned.
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Focus on Finance & Economy
More rental housing development needed despite recent rise: RBC economist
Through the Daily Updates, the GNCC aims to deliver important business news in a timely manner. We disseminate all news and information we feel will be important to businesses. Inclusion in the Daily Update is not an endorsement by the GNCC.
